Other banks and investment banks looked for foreign capital and losses continued. In some cases it was a further erosion of American companies. HSBC plc is the same, although as a global bank it is easier to disguise. HSBC needs money. HSBC Holdings has met with China Investment Corp (CIC), China’s US$200 billion sovereign wealth fund, over a potential investment deal, Reuters reported, citing the Sunday Telegraph. According to the report, which did not cite any sources, HSBC Chairman Stephen Green has met with CIC officials several times, and is believed to have discussed the possibility of CIC buying shares in HSBC on the open market. HSBC, Europe’s largest bank, currently aims to become the first foreign company to list on China’s A-share market.
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